Ascent Bridge Limited Raises Over S$2.3 Million Through Share Placement

The latest announcement is out from Ascent Bridge Limited ( (SG:AWG) ).

Ascent Bridge Limited has successfully completed a placement of 17,414,446 new ordinary shares at S$0.14 per share, raising net proceeds of approximately S$2,366,022 after deducting related expenses. The company has allocated these funds primarily for general working capital purposes, including payments for directors’ fees, suppliers, and rental expenses, with a remaining balance of S$1,603,000. This financial move is intended to support the company’s operational expenses and enhance its financial stability.

More about Ascent Bridge Limited

Ascent Bridge Limited is a company incorporated in the Republic of Singapore. It operates as part of a group with its subsidiaries, focusing on providing various services and products, though specific industry details are not provided in the release.

YTD Price Performance: 81.58%

Average Trading Volume: 10,514

Technical Sentiment Consensus Rating: Sell

Current Market Cap: S$36.05M

For a thorough assessment of AWG stock, go to TipRanks’ Stock Analysis page.